Post
Topic
Board Gambling
Re: 🎲BetFury.com|🎰Sign up & get Welcome Bonus up to 590% + 275 FS
by
dwyane36
on 01/10/2024, 03:01:33 UTC
If we don't count the tokens that are burned because they are lost in gambling (which are provided by users themselves), they are just burning tokens from their own treasury (which they misleadingly call buyback bwt). Those tokens were never going to be on the free market, so "buying" them and burning them is not creating support .

So that's not in any way contributing to price. What it's technically contributing to, is rising the marketcap, and that's misleading as well, because marketcap is traditionally counted only with circulating tokens, and those tokens weren't planned to be in real circulation anyway, so burning then is a just smoke and mirrors and a charade. They aren't even using their profits to "buy" it back.

Yes, that updated tokenomics and the burning process initially looked good on paper, but it's been a few months since then, and unfortunately, it still doesn't work as well as BFG holders would like. By the way, the volume of their last burning transaction was only $21k, which is noticeably less than it was a year ago.